NZD/USD moves lower for the second day in a row and extends retracement of yearly high. The war in Ukraine weighs on investor sentiment and weighs on the perceived riskier NZD. A modest pullback in US bond yields keeps USD bulls on the defensive and offers support for the pair. The pair NZD/USD remains under […]
Tag: Fed
GBP/USD maintains modest recovery gains, lacks continuation above 1.3100
GBP/USD gains some positive traction on Thursday, though has a hard time capitalizing on the move. The Fed’s dovish outlook and softer risk sentiment benefit the safe-haven USD and cap the pair’s gains. The pair GBP/USD has retraced from the daily high at 1.3106 touched at the start of the European session and falls around […]
Dollar pulls back after Fed-inspired rally, spotlight on central bank speeches
This is what you need to know to trade today Thursday April 7: The dollar rally continued late on Wednesday and the US dollar index DXYwhich measures the performance of the dollar against a basket of six major currencies, reached its highest level in almost two years at 99.77. Ahead of the initial jobless claims […]
USD/JPY recovers early losses, capped below 124.00
USD/JPY finds buying near the 123.45 area on Thursday, though it lacks a continuation. Risk aversion benefits the safe-haven JPY and caps the pair’s gains amid a pullback in US bond yields. The divergence in monetary policies between the Fed and BoJ favors the pair’s bulls and supports the prospects for additional gains. The pair […]
AUD/USD extends decline as dollar rises after Fed Minutes, tests 0.7500 level
AUD/USD has dipped back near the 0.7500 level as the US dollar strengthens after the release of the Fed minutes. That means the pair is now down more than 1.0% on the day, with stocks bearish and commodity prices weighing on their men. The US dollar is rising on the heels of the release of […]
GBP/USD goes up and down after the publication of the aggressive FOMC Minutes
GBP/USD is on the defensive as the US dollar rallies on the FOMC aggressive line. The FOMC Minutes showed Federal Reserve officials expressing anxiety about inflation. The GBP was the strongest currency immediately after the release of the Federal Open Market Committee Minutes, jumping to 1.3107 before falling to the minutes’ low of 1.3056 as […]
Several participants considered it appropriate to move the policy to neutral on an expedited basis.
FOMC Meeting Minutes March revealed that several of the participants considered that it would be appropriate to change the monetary policy stance towards a neutral stance in an expeditious manner, reported Reuters. Additional comments summarized by Reuters: “Participants also noted that, depending on economic and financial developments, a shift to a tougher policy stance might […]
Buying dips should help limit losses, 0.7500 is key for bulls
-637848503358980414.png "Buying dips should help limit losses, 0.7500 is key for bulls")
AUD/USD saw some selling on Wednesday and moved further away from the yearly high. The overnight pullback could be seen as a false breakout through an uptrend channel. Dips towards the 0.7535-0.7530 area could be seen as a buying opportunity and remain limited. The pair AUD/USD dipped on Wednesday and pulled back further from the […]
I am committed to “methodically” raising interest rates back to neutral, which is around 2.5% — Patrick Harker
Philadelphia Fed President and FOMC member Patrick Harker he said on Wednesday that he is committed to methodically raising interest rates back to neutral, which he expects to be around 2.5%, Reuters reported. Shrinking the balance sheet will also remove financial accommodation, he added, noting that we want to slow the economy in a way […]
Upward Channel Favors Bullish Traders, FOMC Minutes Expected
-637848484143783675.png "Upward Channel Favors Bullish Traders, FOMC Minutes Expected")
USD/JPY continued its positive move for the fourth day in a row and rose to a one-week high. The formation of a short-term uptrend channel supports the prospects for further gains. The slightly overbought RSI (14) prevented the bulls from making further bets ahead of the FOMC Minutes. The USD/JPY gained positive traction for the […]
